Pacer Advisors Inc. Has $4.04 Million Stock Position in Casey’s General Stores, Inc. $CASY

Pacer Advisors Inc. boosted its position in Casey’s General Stores, Inc. (NASDAQ:CASY) by 24.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,543 shares of the company’s stock after acquiring an additional 1,096 shares during the period. Pacer Advisors Inc.’s holdings in Casey’s General Stores were worth $4,035,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. S&A Financial Services Inc. acquired a new position in shares of Casey’s General Stores during the first quarter worth approximately $207,000. FAS Wealth Partners Inc. acquired a new stake in Casey’s General Stores in the 1st quarter valued at $203,000. First Nebraska Trust Co bought a new stake in Casey’s General Stores during the 1st quarter valued at $853,000. Glenmede Trust Co. NA increased its stake in Casey’s General Stores by 6.8% during the 1st quarter. Glenmede Trust Co. NA now owns 707 shares of the company’s stock valued at $515,000 after purchasing an additional 45 shares in the last quarter. Finally, Wellington Grp LLC increased its stake in Casey’s General Stores by 15.7% during the 1st quarter. Wellington Grp LLC now owns 1,847 shares of the company’s stock valued at $1,344,000 after purchasing an additional 250 shares in the last quarter. Institutional investors and hedge funds own 85.63% of the company’s stock.

Insider Activity

In other news, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of Casey’s General Stores stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $838.16, for a total transaction of $4,777,512.00. Following the sale, the chief financial officer directly owned 29,677 shares in the company, valued at $24,874,074.32. The trade was a 16.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Chad Michael Frazell sold 3,013 shares of the business’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $787.49, for a total transaction of $2,372,707.37. Following the completion of the transaction, the insider directly owned 9,823 shares in the company, valued at $7,735,514.27. This trade represents a 23.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 30,243 shares of company stock worth $24,421,877. 0.67% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CASY shares. UBS Group raised their price objective on shares of Casey’s General Stores from $805.00 to $945.00 and gave the company a “neutral” rating in a research note on Thursday, June 11th. Morgan Stanley raised shares of Casey’s General Stores to a “buy” rating in a research report on Wednesday, June 10th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $1,000.00 target price on shares of Casey’s General Stores in a report on Monday, June 15th. Zacks Research cut shares of Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 5th. Finally, Wall Street Zen upgraded Casey’s General Stores from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Fourteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $944.20.

Casey’s General Stores Price Performance

Shares of NASDAQ CASY opened at $832.42 on Friday. Casey’s General Stores, Inc. has a twelve month low of $490.00 and a twelve month high of $927.85. The stock’s 50 day moving average price is $827.71 and its 200-day moving average price is $759.74. The company has a market capitalization of $30.81 billion, a PE ratio of 43.45, a PEG ratio of 2.56 and a beta of 0.61. The company has a quick ratio of 0.60, a current ratio of 1.01 and a debt-to-equity ratio of 0.59.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings results on Tuesday, June 9th. The company reported $4.37 EPS for the quarter, beating analysts’ consensus estimates of $3.31 by $1.06. The company had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.33 billion. Casey’s General Stores had a return on equity of 18.73% and a net margin of 4.07%.Casey’s General Stores’s revenue was up 14.5% on a year-over-year basis. During the same period last year, the business posted $2.63 earnings per share. On average, equities analysts anticipate that Casey’s General Stores, Inc. will post 21.14 EPS for the current year.

Casey’s General Stores Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Saturday, August 1st will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, July 31st. This represents a $2.60 annualized dividend and a dividend yield of 0.3%. This is a boost from Casey’s General Stores’s previous quarterly dividend of $0.57. Casey’s General Stores’s payout ratio is 13.57%.

Casey’s General Stores Company Profile

Casey’s General Stores, Inc (NASDAQ: CASY) is a U.S.-based convenience store chain that operates retail fuel stations and food-focused convenience outlets. Founded in 1959 in Boone, Iowa, the company has grown from a single neighborhood store into a regional operator known for combining traditional convenience retailing—fuel, packaged goods and tobacco—with a larger emphasis on fresh and prepared foods.

The company’s stores typically offer gasoline and diesel alongside a range of grocery essentials, grab-and-go items and made-to-order foodservice.